Sainty Marine to terminate disputed contracts

Shanghai: Jiangsu Sainty Marine, in an ongoing shipbuilding dispute with Sasa Shipping and Adriana Shipping, has announced yesterday that it has issued last notices to the two shipowners to take delivery of two 82,000 dwt bulkers within 30 days, otherwise it will terminate the contracts and reserve the rights to claim for compensation.

Sainty Marine had informed the two shipowners to take delivery of the vessels in February this year, however, both Sasa Shipping and Adriana Shipping refused to take delivery of the vessels as they felt the vessels hadn’t met the delivery terms. [08/11/13]